The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1887-10-12
A GIGANTIC SCHEME.
An merican Syndicate Loan Money
50 China.

The London 90 Standard - of Septem-
Der 21st prints a long dispatch from
Shanghai concerning the American in
vasion of China. In speaking of the ex-
tent of the concessions obtained, the
dispatch says:
The result, however, unratified so far
by the American syndicate although
finally accepted by the Chinese Viceroy,
is: This loan of 100000 taels, or over
100000, at 8 per cent, has already
been advanced by the syndicate to the
Imperial Board of Telegraph's syndicate,
to supply all materials and to fix up a
new long-distance telephone between
the principal open ports. In addition to
this, another loan of 100000 teals has
been advanced to the Viceroy, for some
purpose not made public, for conven-
fence called especial purposes"
These are the concessions so far def
nitely settled. But those following are
tentative propositions, and by far the
most important, are: First, the estab-
lishment of of what is called in the ne
gotiations a National and International
Amalgamated Bank, under the Imperial
charter and supplied by American-Chi-
nese funds of stupendous sum-mostly,
however, American money. This insti-
tuition is to have peculiar and exclusive
rights, monopolies and various other
like considerations from the Imperial
Government. 1t is agreed and coven-
anted that it will supply, manage and
control the entire finances of the I'm
perial and Provincial Governments, and
collect and disburse the entire Imperial
Treasury funds, provide sinews of war
for all such measures of the Government
as the building, construction and main
tenance of forts, fleets, arsenals, navies,
guns, railways, telegraphs, canals, &C.,
throughout the Empire. 1t will provide
for the army, the drainage, river i'm
provements and, to put it briefly, every
thing for which the Government of such
a country as China requires money.
The bank will have the exclusive
right to coin all moneys and issue notes,
and it is intended as preliminary step
to these astounding operations that this
institution shall establish branches in
every Chinese city of importance, as
well as in many cities on the other four
continents with which China has diplo-
matte or commercial relations. Lon
don, Paris, New York and Philadelphia
are to be the chief foreign centers In
short, its operations are to be endless.
There is no doubt that China wants
money, and is most anxious to get all she
can; but it is hard to believe that the
Viceroy would hand his country so COM
pletely oyer to the Americans as this
scheme would lead one to suppose. The
loans already successfully negotiated by
the syndicate have been made in a way
new to China, i. e., without having OBJ
tanned Imperial decree, fact which has
not tended to lessen the establishment
with which the Emperor's scheme has
filed the country.
Strange to say, there is no mention
made yet of security to be given by
China to the Americans for their money
for the new bank, which will have even
more important functions toward China
than the Bank of England toward Eng
land. The entire basis of the conces-
sions is very peculiar, and the tide of
public opinion here is against the pro-
ject. However, we may stand in awe
under its overwhelming proportions.
The censors have apparently been
thrown into CONSERVATION by this most
daring move of the party of progress,
headed by Ii Hung Chang and the Mar
quis Tseng, and they have not yet me-
morialized the throne against it, although |
it is believed that the syndicate will |
have to fight the prejudices of these |
most potent forces in the realm.